Singapore demonstrates a strong anti-money laundering (AML) legislative framework but shows significant weaknesses in its effective implementation, according to a recent review by the Financial Action Task Force (FATF).
The Basel Institute on Governance provides a comparative analysis illustrating how Singapore fares/compares against other countries evaluated by the FATF on the basis of its new assessment methodology.
Switzerland is frequently accused of being reluctant to take thorough measures to fight money laundering. Both the Swiss authorities and the banks in Switzerland strongly reject such accusations. We are convinced that our anti-money laundering measures are best market practice.